Germany's unemployment rate fell " below 8% for the first time in more than 16 years." Unemployment in France is 7.8%. Among EU members, unemployment averages 7.1%. If only the U.S. economy were as strong as our European brethren. If only the U.S. unemployment rate were so low, fewer headlines would claim America is on the verge of depression. That American dominance is at an end. Wait a second. Here in the United States, unemployment rate in April was only 5 percent, which many economists consider full employment. In fact, U.S. unemployment has not reached 7 percent at any time since 1992. Puts things in perspective, no?